Maersk launches first €500m green bond for methanol ships

It is hoping to have methanol-powered container ships ready to go by 2024 with the new investment

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Maersk freight ship

Shipping company Maersk has issued its first €500 million (£423m) green bond to fund its first green methanol vessels.

The 10-year bond is going towards building eight large ocean container vessels that will run on carbon-neutral methanol by 2024.

The investment is part of wider aim to become entirely carbon-neutral by 2050.

The bond was met with a positive reception from investors; heavily oversubscribed, with a final order book of €3.7 billion (£3.1bn).

CFO Patrick Jany commented: “Issuing green financing instruments is a further step to integrating sustainability into our financing operations as it is an effective tool for channelling investments to projects with positive environmental impact and thereby contributing to the achievement of the UN Sustainable Development Goals (SDGs) and the Paris Agreement.

“With this green bond, we aim at diversifying our investor base by reaching out to new investors and increasing the transparency of our ESG ambitions and performance even further towards our stakeholders.”